Southeast Asia, with a GDP of USD$ 3 trillion in year 2021, is considered as one of the world’s fastest growing markets, especially in Malaysia and Singapore.
Singapore was ranked as the 2nd easiest and friendliest place to do business by The World Bank in year 2020 with a score of 86.2%. The population is estimated to be around 5,947,961 in 2022 with a GNI Per Capita at USD$ 64,010 in 2021. This country is considered to be a high-income country.
As for Malaysia, the country was ranked as the 12th easiest and friendliest place to do business by The World Bank in year 2020 with a score of 81.5%. The population is estimated to be around 33,245,918 with a GNI Per Capita at USD$ 10,930. This country is however considered as an upper middle-income country.
Despite the difference in ranks, these countries are considered as the two most attractive foreign investment destinations in Southeast Asia. So, how are these two countries beneficial towards your business goals and which you should decide to incorporate in?